Crackdown On Millionaires Who Dodge Taxes

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Anyone worth more than £1m faces coming under scrutiny from inspectors in a fresh crackdown on tax avoidance announced by Liberal Democrat Treasury Chief Secretary Danny Alexander.
The move will mean 200,000 more people will be targeted by HM Revenue and Customs' affluence unit, set up originally to study the affairs of the 300,000 with assets and property of more than £2.5m.
Mr Alexander said officials would "sniff out" anybody who was not paying their fair share of tax.
"The measure will apply to people with homes and assets of more than £1m," he told the Mail on Sunday at the start of the Lib Dems' annual conference in Brighton.
"The wealthiest did best in the boom years and it is right they should pay more now."
Mr Alexander said the affluence unit, boosted from 200 to 300 staff, would cross-reference files and records to spot signs of avoidance.
"They will look at anomalies and sniff out any problems," he said.
The initiative is likely to play well with Lib Dem activists and come as Deputy Prime Minister and Lib Dem leader Nick Clegg vowed to play hardball with David Cameron over the future of the coalition.
It comes as Vince Cable indicated he wants a fresh assault on tax havens and non-domiciled millionaires.
The Business Secretary told The Sunday Times he wants tough action against "shady" wealthy people who make "systematic and cynical" use of offshore havens such as Monaco and the Cayman Islands.
Mr Clegg admitted at an opening evening conference rally that the Lib Dems had made mistakes during their first two years in coalition.
But he stressed it was only "half-time" in the coalition's term of office and rubbished suggestions he would step down before 2015 by promising to fight for the party's values right up to the general election.
"One of the most important ways we can do that is by making taxes fairer," he said.
"Lower taxes on work and more on unearned wealth. I want to reward people who put in a proper shift, not those who sit on a fortune. People for whom a bonus means a few extra quid at Christmas, not a million pound windfall."
Aides said Mr Clegg would insist on fresh taxes for the wealthy - such as the party's favoured levy on mansions - as the price for accepting billions of pounds of extra spending cuts when the coalition sets budgets for 2015-16.
The tactic could force the Tories to decide between agreeing to the policy or abandoning Mr Osborne's key deficit reduction targets.




http://news.sky.com/story/988441/crackdown-on-millionaires-who-dodge-taxes

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Re: Crackdown On Millionaires Who Dodge Taxes

Well this is being used to try and get some respect back for the lib dems, how pathetic. This should be done routinely and not just to gain favour. Am sure if the rich were to pay all their dues and I mean their dues no more no less, then this mess we are in would not be any where near as bad, or even none existent although maybe that's too much too expect.
I hope this happens and I hope the tax man goes back his 6 entitled years with all of the people caught out. I also think the findings should be published.

[wales01man]

Re: Crackdown On Millionaires Who Dodge Taxes

Are there any lifebelts on brighton pier to through to this drowning party its plain to see that the polls are showing support for this lot is waning in my book a mans word is his bond when someone pledges something like their opposition to tuiton fees then renades on this trust goes out of the window clinging onto what little power they have the libdems are digging themselfs deeper into the ground we need politicians who say what they mean promise what they can deliver and ones who can gain the respect of the people too many of them want to be everthing to everone but it does not work state the truth and get to grips with the probems the whole country faces instead of lokking after themselfs and their cronies Doubtful it will ever change

[miliitant]

Re: Crackdown On Millionaires Who Dodge Taxes

todays news
tomorrows chip paper

headlines again
do you realy think his tory millionaire chums will agree to this

i think not